What does a standard Homeowner's Insurance Policy include?

• Personal Property
• Personal Liability ( in case of a claim about an injury or property damage to a third party)
• Loss of Use/Extra living Expenses (if your home is unhabitable following a covered loss)
• Dwelling
• Other Structures (Detached garage, shed...)

What happens if you own a condominium? Normally the condominium association covers any damage to the exterior of the property including roof, walls and the common areas.  The Important thing to understand is that is where the coverage stops.  The interior finish of your unit is only protected when you purchase an H06 Condo insurance policy. 

The H06 Condo Insurance policy covers any damage to your walls, floors, bathrooms, kitchen.  It also provides coverage to your personal property items, like furniture, clothing, Electronics and appliances.   If we need this items to be covered it is imperative that we buy an H06 Condo Insurance policy.

What about wind or windstorm insurance?

A professionally drawn insurance policy will usually ensure that both wind and windstorm coverage are included in the homeowner's insurance.

Given that Florida is susceptible to hurricane force winds and or tropical storm on a regular basis, it is important to consider protecting your home with wind breakers, tropical resistant shutters etc...

Older homes, build before the onslaught of hurricane Andrew in 1992 are more vulnerable to wind damage than modern, post Andrew's new building code homes.

If you own such a home, in addition to the recommended shutters, it might be a good idea to replace the windows with impact glasses, change old doors etc...

Upgrading your home is such a way is an investment that may cost you an initial outlay. But if you consider the savings in premium per year, it is usually accepted that a couple of years are all it takes to recoup any initial investment.

What about Flood Insurance

If you live in Florida, you probably already know if your home is located in a flood zone. Insuring that you are covered for flood insurance is certainly a question you should ask Liz. A flood policy is not normally covered under the homeowner's insurance or content policy.

A great number of claims are made due to flood damages

What if you don't live in a flood zone? There are several types of flooding. The first one is the result of a tropical storm of a hurricane that produces a tidal surge.  Another type is caused by water having nowhere to go during heavy and rapid rainfall. This produces a water bottle neck which may spread to homes nearby.

What about costs?

When it comes to annual premiums for homeowners insurance, Florida ranks as one of the more expensive states in the country. But premiums vary from location to location and even from one policy to another.  The determining factors in estimating the cost of homeowners insurance for your own home depend on the size of your home, your assets and of course your address.